McDonald’s Co. (NYSE:MCD) Shares Sold by Heritage Wealth Management Inc.

08 Nov 2024, 12:54 by Scott Moore · The Cerbat Gem

Heritage Wealth Management Inc. decreased its holdings in McDonald’s Co. (NYSE:MCD – Free Report) by 2.4% in the third quarter, Holdings Channel reports. The firm owned 10,737 shares of the fast-food giant’s stock after selling 263 shares during the period. McDonald’s comprises about 1.1% of Heritage Wealth Management Inc.’s portfolio, making the stock its 15th largest position. Heritage Wealth Management Inc.’s holdings in McDonald’s were worth $3,270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCD. Stiles Financial Services Inc boosted its holdings in McDonald’s by 2.9% in the third quarter. Stiles Financial Services Inc now owns 4,290 shares of the fast-food giant’s stock worth $1,306,000 after acquiring an additional 121 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. increased its stake in McDonald’s by 0.9% during the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,936 shares of the fast-food giant’s stock valued at $1,503,000 after purchasing an additional 45 shares in the last quarter. AIA Group Ltd raised its holdings in shares of McDonald’s by 390.9% in the third quarter. AIA Group Ltd now owns 12,252 shares of the fast-food giant’s stock worth $3,731,000 after buying an additional 9,756 shares during the last quarter. First National Bank & Trust Co. of Newtown lifted its stake in shares of McDonald’s by 1.1% during the third quarter. First National Bank & Trust Co. of Newtown now owns 12,464 shares of the fast-food giant’s stock worth $3,795,000 after buying an additional 133 shares during the period. Finally, Hudson Value Partners LLC increased its position in shares of McDonald’s by 3.7% in the 3rd quarter. Hudson Value Partners LLC now owns 13,852 shares of the fast-food giant’s stock valued at $4,218,000 after acquiring an additional 497 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,596 shares of company stock valued at $10,698,289. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

NYSE MCD traded up $3.56 during trading on Friday, reaching $298.22. 154,587 shares of the company’s stock were exchanged, compared to its average volume of 3,513,148. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The stock has a market cap of $213.93 billion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 3.89 and a beta of 0.74. The company has a 50 day moving average price of $298.74 and a two-hundred day moving average price of $276.35.

McDonald’s (NYSE:MCD – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.19 earnings per share. Research analysts forecast that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 62.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MCD. Morgan Stanley lifted their price target on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. UBS Group boosted their target price on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Finally, BMO Capital Markets boosted their price target on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

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